Business

Sensex gains for the 4th day, mid-caps finish in red

IANS | October 16, 2019 05:35 PM

MUMBAI:Supportive global markets buoyed by progress in the US-China trade talks and the possibility of a deal between the UK and European Union to avoid a no-deal Brexit helped Indian markets finish in the green for the fourth day in a row.

Despite a tepid start to the second quarter (Q2)) corporate earnings season and weak growth projection by several institutions, Foreign Institutional Investors have been net buyers for the last three trade session, purchasing over Rs 2,000 crore worth of stocks.

The Sensex closed on Wednesday 92.90 points higher at 38,598.99, while the Nifty settled at 11,471.55, up 43.25 points on its previous close. However, BSE mid-caps closed in the red.

"Market traded range bound as a tepid start to Q2 earnings influenced investors to stay cautious. Ease in global trade tensions will help to reduce the global headwinds and attract foreign liquidity," said Vinod Nair, Head of Research, Geojit Financial Services.



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